The digital bank trusted by 250,000 British savers with over £7bn of their hard-earned cash, has entered the UK children’s savings market for the first time
Monday 5th October, 2026; London – OakNorth today announces the launch of its Junior Cash ISA (JISA) with 3.5% AER, marking the first time in the bank’s 11-year history that it has created a savings product designed for younger savers. The account allows parents and guardians to save up to £9,000 tax-free on behalf of a child, with deposits locked until the child turns 18, and protected up to £120,000 by the Financial Services Compensation Scheme (FSCS).
OakNorth has offered ISA products to adult savers for several years, with its Easy Access Cash ISA and Fixed Rate Cash ISA already trusted by hundreds of thousands of customers. The Junior Cash ISA is the bank’s first product aimed at the next generation – an extension of OakNorth’s savings franchise to families who want to save with the same security and simplicity they’ve come to expect, but on behalf of their children.
Parents can open a Junior Cash ISA from just £1 and can manage the account entirely in the OakNorth app or online. Existing Junior ISAs held elsewhere can also be transferred in without affecting the child’s annual allowance. The account is available for children aged 14 and under at launch, and can be opened in under 10 minutes.
Customers who open a Junior Cash ISA with OakNorth will receive two free hours of babysitting through the Bubble app – a practical, immediate benefit for the working parents and young families OakNorth most wants to reach. The digital bank is also exploring additional partnerships with its extensive childcare lending portfolio, which includes nursery groups such as Storal, Kinderzimmer, ICP Educare, as well as the retailer, Mamas & Papas.
Thomas Robinson, Product Director at OakNorth, said: “We’ve spent over a decade helping hundreds of thousands of British adults make their money go further. The Junior Cash ISA is the natural next step – a way to bring the same trust, security and straightforward experience to families saving for their children’s futures. We want to make it easier for families to start saving for their children’s futures – 85% of young people in the UK don’t currently have a JISA, so there’s huge, untapped potential here.”
Tom Mursell, Head of Growth at Bubble, continued: “We exist to make trusted childcare more accessible for families across the UK, while OakNorth’s mission is focused on making finance more accessible, so there are clear synergies here. Parents have a lot on their plates – anything that takes a little pressure off, even for a couple of hours, genuinely matters. We’re delighted to be part of a product that’s thinking about what families actually need right now, not just in two decades’ time.”
ENDS
Notes to editors
Launched in September 2015, OakNorth is the bank for entrepreneurs, by entrepreneurs. It was founded to address the persistent funding gap facing lower mid-market businesses – a segment that accounts for a significant share of economic output yet remains underserved by traditional banks.
To date, OakNorth has provided over $23bn in lending to thousands of entrepreneur-led businesses across the UK and US, supporting the creation of more than 70,000 jobs.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Visit www.oaknorth.co.uk for more information.
- The OakNorth Junior Cash ISA is available from Monday 5th October, 2026 at oaknorth.co.uk
- The annual subscription limit for Junior ISAs is £9,000 per tax year (2026/27), shared across cash and stocks and shares Junior ISAs
- The Bubble babysitting reward is subject to terms and conditions; visit oaknorth.co.uk for details
- OakNorth Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (Financial Services Register number: 629564). Registered in England No. 08595042
- Interest rate information correct as of Monday 5th October, 2026; subject to change.
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